How Bombora Achieved $30M Revenue by Leveraging Data Co-op and Bootstrapping Strategy

2015: Launch of Bombora and the Bootstrapping Journey

Eric Matlick, the CEO of Bombora, brought over 15 years of experience in founding advertising technology companies when he launched Bombora. Unlike many tech companies, Bombora was bootstrapped from the start, a strategic decision that allowed the company to grow without relying heavily on venture capital. In the early years, Matlick focused on leveraging his expertise in the B2B intent data space, setting a foundation that would later propel Bombora to substantial revenue milestones.

2018: Reaching $26M Revenue with Data Co-op Strategy

By 2018, Bombora had reached $26 million in revenue. The growth was primarily fueled by Bombora’s unique data co-op model, which involved partnering with thousands of B2B publishers. This partnership allowed Bombora to access exclusive data on business professionals’ content consumption patterns, establishing a significant competitive advantage. Over 70% of these partnerships were exclusive, ensuring Bombora’s data was unrivaled in the market.

2019: Breaking the $30M Revenue Barrier

In 2019, Bombora’s revenue reached over $30 million, marking a significant milestone in the company’s growth trajectory. This was achieved by focusing on large Fortune 1000 companies, which benefited from Bombora’s comprehensive data analytics. The company also began integrating its services with widely-used platforms like Salesforce, enhancing sales enablement for its clients by identifying high-propensity prospects.

2020: Navigating COVID-19 and Stabilizing Revenue

Despite the challenges posed by the COVID-19 pandemic, Bombora managed to maintain its revenue growth trajectory. The company’s focus on providing actionable insights into B2B purchasing behavior proved invaluable during uncertain times. As businesses reevaluated their budgets, Bombora’s services became even more critical in helping companies identify which prospects were most likely to convert. The company’s strategy involved not only adjusting its event marketing budget but also applying for the CARES Act’s PPP to maintain operational stability.

2021: Expanding Direct Sales and Mid-Market Focus

In a strategic pivot, Bombora expanded its focus to include the mid-market segment, launching a direct sales effort that complemented its existing channel partner strategy. This shift led to the acquisition of nearly 200 direct customers, broadening its client base and diversifying revenue streams. The company’s Average Contract Value (ACV) adjusted accordingly, with mid-market ACVs averaging around $30,000, compared to $125,000-$150,000 for larger clients.

Growth Tactics That Drove Bombora’s Success

• Steroid Affiliates: Bombora’s unique data co-op model and exclusive partnerships with B2B publishers created a powerful affiliate-like network, providing unrivaled data insights that attracted high-profile clients.
• $200M Affiliate Playbook: The strategic decision to bootstrap and focus on sustainable growth without heavy VC funding allowed for greater flexibility and control over business decisions.
• System Game: By integrating with platforms like Salesforce, Bombora effectively gamed the system to enhance sales enablement, helping clients identify high-conversion prospects efficiently.

For more information about Bombora’s growth strategy and company details, visit their GetLatka company profile or explore their offerings at Bombora’s official website. To understand more about companies in similar industries, check the industry category page on GetLatka.